Xi, Biden in Peru for APEC summit, pre-Trump face-to-face
uncertainty over Trump's next moves now clouds the APEC agenda -- as it does for the COP29 climate talks underway...
COP29 opens with Trump climate withdrawal looming
he COP29 climate talks open Monday in Azerbaijan, under the long shadow cast by Donald Trump's re-election. Trump has pledged...
Economy
Science
Sustainable food cold chains reduce waste, fight climate change, says UN report
Greater investment in sustainable food cold chains is needed to reduce hunger, provide livelihoods to communities and adapt to climate...
- These systems are critical to maintaining the quality, nutritional value and safety of food.
- An estimated 14 percent of all food produced for human consumption is lost before it even reaches consumers.
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Post-Covid UAE real estate upswing to continue
A high number of residential and commercial units delivered in 2022 means tenant retention will become more critical, and rental...
- In a report, real estate advisory firm JLL said that the residential sector was the highest performer “within construction asset awards”.
- The influx of high net worth individuals to the UAE, especially Dubai, and Golden Visa have also boosted the real estate market.
Geostrategy
G20 health, finance ministers agree to launch US$1.4bn pandemic fund
The G20 health ministers have agreed to establish a pandemic fund.
- The fund will be commonly used to fix the health system and close the budget gap for the following five years.
- Up to 20 donor countries and three philanthropists have expressed willingness to contribute to the effort to raise "pandemic fund" totaling US$1.4 billion.
Science
COP27 focuses on ways and means to feed 8 billion people
The adaptation and agriculture thematic day at COP27 focused on how the world will feed eight billion people.
- A series of sessions and initiatives shed light on pathways forward on adaptation and climate resilient agriculture.
- The focus comes at a particularly challenging year for food security.
Geostrategy
Mozambique has begun exporting LNG, says President
Mozambique has started exporting liquefied natural gas (LNG) produced in the country's restive north, President Filipe Nyusi said. The first...
- Mozambique has set high hopes on vast natural gas deposits - the largest ever found south of the Sahara.
- Estimates have shown that once all the gas deposits were tapped, Mozambique could become one of the world's 10 biggest exporters.
Economy
Saudi Arabia raising phosphate fertilisers production
The kingdom is among the world’s leading phosphate exporters, along with China, the US, Russia and Morocco.
- The kingdom is among the world’s leading phosphate exporters, along with China, the US, Russia and Morocco
- The oil-rich country plans to increase capacity by 50 percent to produce 9mn tonnes of phosphate fertilisers a year
Economy
Qatar and Kuwait renew pledge to help Afghanistan with aid
United Nations, US—Reiterating their pledge to continue providing aid to Afghanistan, Qatar and Kuwait have said they will continue to...
- Sheikha Alia Ahmed said that Qatar has made peace and development a priority of its post-war engagement in Afghanistan, particularly the issue of empowering women and girls
- Bader Al-Daihani said that Kuwait has provided $92 million in humanitarian aid to Afghans
Paris Peace Forum: Queen Rania calls for paradigm shift in response to global crises
The Queen explained that the global refugee crisis has reached "epic proportions" with the number of displaced people around the...
- The Queen explained that the global refugee crisis has reached "epic proportions" with the number of displaced people around the world now exceeding 100 million
- Launched in 2018, the Paris Peace Forum convenes yearly with the aim of contributing to bridging the governance gap by bringing together multiple stakeholders
Economy
Technological innovations drive climate action across GCC, say UAE, Saudi leaders at COP27
The Kingdom has moved from ambition to action during the past two years to empower people, protect the planet and...
- The Kingdom has moved from ambition to action during the past two years to empower people, protect the planet and shape new horizons, says Saudi minister
- The COP27 in Egypt, COP28 in the UAE next year and the Saudi Green Initiative are all opportunities that we can move forward, says UAE minister Mariam Almheiri
Science
UAE ministry launches Green Business Toolkit 2.0 at COP27
The Ministry of Climate Change and Environment (MOCCAE) introduced the second edition of the UAE Green Business Toolkit in partnership...
- The move aligns with the UAE’s pathway to net-zero and supports sustainable economic development.
- The UAE Green Business Toolkit 2.0 seeks to benefit from the business sector's increasing awareness about the importance of achieving net-zero.
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Revenue from Saudi cinema may exceed $1bn by 2030KSA, UAE play well as e-gaming trends across GCCExclusive: Middle East’s retail sector rides on AR and hybrid shopping to become $600bn digital economyTECOM Group profit soars 13%UAE startups eye Saudi Arabia for growth, expansionSaudi Arabia leads GCC AI healthcare raceDisparity remains as Saudis, Emiratis see wealth gains
Xi, Biden in Peru for APEC summit, pre-Trump face-to-face
uncertainty over Trump's next moves now clouds the APEC agenda -- as it does for the COP29 climate talks underway...
Company News
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Saudi Arabian ministry issues 174 industrial licenses
RIYADH, SAUDI ARABIA – The Kingdom’s Ministry of Industry and Mineral Resources announced issuing 174 new industrial licenses in September,...
Business
Turkish inflation rate holds near 61 percent
Turkey is suffering the worst bout of inflation of President Recep Tayyip Erdogan's two-decade rule. The official annual inflation rate...
Economy
Bahrain suspends economic relations with Israel
DUBAI, UAE - Bahrain has recalled its Ambassador from Israel and decided to suspend economic relations with Tel Aviv in...
Geostrategy
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Economy
Jordan becomes UAE’s regional investment hub
“Jordan has become a regional investment hub of choice for the UAE's direct investments, totaling US$4 billion. This represents 14%...
- The UAE has invested $4 billion directly in Jordan, with non-oil trade reaching $4.5 billion in 2022, reflecting their deep-rooted ties and mutual interests.
- In 2022, the UAE, Jordan, Egypt, and Bahrain announced a comprehensive industrial partnership, allocating a $10bn investment fund for collaborative projects.
Economy
Gulf central banks mimic US Fed, maintain interest rates
The UAE's central bank has kept its Base Rate for the Overnight Deposit Facility (ODF) unchanged at 5.40 percent. It...
- Federal Reserve's decision to hold interest rates comes amid concerns of persistent inflation
- The CBUAE and QCB's decision underscores the link between global and regional monetary policies
Business
Second quarter foreign investments in Saudi Arabia hit $666bn
Riyadh, Saudi Arabia -- Foreign investments in Saudi Arabia increased 4 percent year-on-year (YoY) to SAR 2.50 trillion ($666. 39...
- The foreign investment balance recorded an increase of 5 percent quarter-on-quarter, or nearly SAR 109.9 billion.
- Foreign direct investments (FDIs) represent 41 percent, or SAR 1.02 trillion, of total investments, Argaam reported.